Gap reports higher sales for Q2, July
San Francisco — Gap Inc. reported net sales of $3.87 billion for the second quarter of 2013, up 8% from $3.58 billion for the second quarter last year. Net sales for July of this year totaled $1.12 billion, close to 6% higher than $1.06 billion in July of the previous year.
Meanwhile, Gap and its Banana Republic and Old Navy brands had a tough July in terms of same-store sales but a pretty good second quarter. During July, Gap global same-store sales rose 7% as compared to 10% last year, while Banana Republic global same-store sales fell 1% as opposed to an 8% increase last year. Old Navy global same-store sales fell 5% last month compared to an 8% hike in July 2012.
However, except for Banana Republic the company had a successful second quarter for same-store sales. Gap global same-store sales grew 6% in Q2 2013, double the 3% growth recorded a year earlier, and Old Navy reported identical results. Banana Republic did not fare so well, reporting a 1% same-store sales decline compared to a 3% increase last year.
The company expects diluted earnings per share for the second quarter of fiscal year 2013 to be in the range of $0.62 to $0.64. This compares to diluted earnings per share for the second quarter of fiscal year 2012 of $0.49. Gap will release its full Q2 2013 earnings statement on Aug. 22.
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Walmart.com gives Facebook fans early access to back-to-school sale
San Bruno, Calif. — Walmart.com is giving fans of its Facebook page early access to a "Back to Class Cyber Monday" event being held Monday, Aug. 12. Customers will receive online discounts of up to 60% on close to 300 back-to-school items ranging as high as almost 60%, while supplies last. Fans of Wal-Mart’s Facebook page can gain early access to the sale by visiting the page on Sunday, Aug. 11 and clicking a special link.
"We’re offering our biggest back-to-school savings ever during a time when parents and students need it most," said Joel Anderson, president & CEO of Walmart.com U.S. "As parents, we recognize the importance of our children’s education, and Walmart.com’s ‘Back to Class Cyber Monday’ helps families prepare for academic success without sacrificing savings."
Roundy’s reports rough Q2 results
Milwaukee — Roundy’s reported generally disappointing financial results for the second quarter of fiscal 2013. Net income plummeted 40% from $18.9 million in the second quarter of the previous year to $13.5 million, while net sales for the second quarter of 2013 were $980.3 million, a decrease of $16.5 million, or 1.7%, from $996.8 million for the second quarter of 2012.
Roundy’s said the decrease was primarily driven by a 5.8% decrease in same-store sales and the effect of three stores closed during 2013, partially offset by the benefit of new stores. The decline in same-store sales was due to a 6.3% decrease in the number of customer transactions, partially offset by a 0.6% increase in average transaction size. Same-store sales comparisons were negatively impacted by the 2013 Easter and 2013 July 4th holiday shifts and the mix shift to greater generic pharmacy sales.
In addition, according to Roundy’s same-store sales were impacted by competitive store openings, wet and cooler weather conditions as well as the soft economic environment that continues to impact customer demand in the company’s core markets as compared to the prior year period.
Roundy’s updated its guidance for fiscal 2013, including an expected decline in same-store sales between 2.25% and 2.75% and sales growth of 1.5% to 2%.
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